1 Jun 2023

House prices fall at fastest rate since 2009, says Nationwide

Data Correspondent and Presenter

There are more signs of a slowdown and volatility in the housing market.

New data from the Bank of England shows the number of mortgages approved for house purchases fell in April.

Figures out today from the Nationwide Building Society show the biggest fall in house prices for nearly 14 years.

This is the change in house prices year on year – and in May, they dropped by 3.4 per cent – the biggest decline since July 2009 and the aftermath of the financial crisis.